MINING NEWS

New Zealand Herald, Volume L, Issue 15307, 21 May 1913, Page 5

MINING NEWS

i- ' WAIHI. ' •>■ FURTHER DROP IN SHARES. 1 Waihi shares again dropped in value yes- ' tcrday. Last week they were sold up to i 43s 9d, but on Saturday they dropped to '' 38s 3d,, and continued in the region of that ' price on Monday. Yesterday, however, | the shares fell 2s. At the first call a par- • eel was sold at 37s 6d, and at the second from 37s to 36s 6d. At the final call they ' were sold at 36s and 36s 3d, leaving fur- • ther sellers at 36s 6d and buyers at 36s 3d. The only apparent reason for the fall in ' the shares is said to bo duo to the presence 1 of water in the No. 4 shaft of the mine. ; :?. MONOWAI. , The manager of the Monowai mine, Waiomo, reports that tho reef at the No. 2 level looks fairly well, and the ore taken from it is being saved for treatment. South of the crosscut at the same level the stripping of the reef off the foot wall of the drive is still being proceeded with, and pood crushing ore is coming to hand. At the open cut a fair supply of payable ore it= being won. For the past week 57 tons of ore were crushed. Tho sample taken from the lip of the boxes gave an.average assay value of £3 13s per ton of gold and silver, WATCHMAN. y The manager of : the Watchman mine, , Thames, reports that during the past week the deviation tunnel was advanced 9ft in the Charter face.; The country is of a firm • description, retarding progress somewhat. The Sunbeam face is along 16ft, leaving a further 118 ft to complete the work. , '. .- ;'''"..„ ;■"'':',' ■-.;' NOTES. , The manager of the Donanza mine, Tararu, reports that the drive is along 155 ft from the main Waitangi level drive. The country now being passed through is of a good description, being interlaced with mineral veins. - s The face of the Magazine drive in the Kuranui ; mine, Thames, is in 108 ft. A favourable class of country, showing quai-tz and mineral veins, is now being penetrated. A little water has been making in the face of -the surfaco drive. In the Waitangi mine, Tnraru, the leading stope in the intermediate level was extended 7ft during tho past week north and south of the rise. The leader when broken down at both ends of the stope showed gold and tellurite freely. The leader averages about 6in in width. The crosscut to intersect the No. 1 leader was driven 7ft for the week. Good progress was made during the past week in extending the deviation drive at the low level in the Dominion mine, Karangahake.. At 55ft from the startingpoint the fault was met -with. It has been penetrated 3ft, and the drive is now 58ft from the straight course.